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Many homeowners are getting notices they must purchase flood insurance for the first time, even though they may live in areas never known to flood....as in, never!

These premiums can cost anywhere from $500 to a few thousand dollars a year. And, in a sweet-heart deal if ever there was one for insurance companies, flood insurance is a requirement for anyone whose mortgage is backed by the federal government. And, yes, more than 50 percent of all mortgages in this country are now guaranteed by Fannie Mae and Freddie Mac (who, by the way, ought to be married by now, don't you think?)

FEMA is relying on new maps drawn up to highlight areas that could --- let me repeat that word again, COULD --- get flooded in what is called a once-in-a-100-year storm! ("Just because you haven't experienced a flood in the past, doesn't mean you won't in the future" FEMA helpfuly explains on its floodsmart.gov website.)